Curis (CRIS) Maintains Buy Rating and $18.00 Price Target - Latest Data Shows Promising Results in Treating Primary CNS Lymphoma
Jones Trading has reiterated its Buy rating and $18.00 price target for Curis (NASDAQ:CRIS), a biotechnology company, following the recent presentation of new data on the combination of emavusertib and ibrutinib for treating relapsed/refractory primary CNS lymphoma. Although the complete response rate experienced a slight decrease in a larger patient cohort, the latest results still show a CR rate of 30% and an ORR of 60% among evaluated patients, surpassing the benchmark CR rate. The additional data from five patients is expected to further mature over time, showing promising responses.
Curis has shown significant progress in its TakeAim Lymphoma and TakeAim Leukemia studies, with the drug emavusertib demonstrating positive results. The company remains optimistic despite a net loss in the second quarter of 2024, as emavusertib has received orphan drug designation in Europe for primary CNS lymphoma and has shown objective responses in AML patients.
With $28.4 million in cash reserves, Curis expects to fund operations into the first quarter of 2025. H.C. Wainwright maintains a Buy rating and a price target of $26.00 for Curis. The company's market capitalization is $31.15 million, with revenue of $10.16 million in the last twelve months and a quarterly revenue growth of 15.89% in Q2 2024.
Investors should note that Curis has experienced significant volatility, with a decline in stock price over the past week and six months. Analysts do not expect the company to be profitable this year, given its focus on research and development. For a more in-depth analysis, InvestingPro offers additional tips to understand Curis's financial health and market position, especially considering its ongoing clinical trials.
In conclusion, Curis's latest data on treating primary CNS lymphoma shows promise, and its progress in developing novel therapeutics is noteworthy. While the stock may experience volatility, the company's potential in areas like AML and primary CNS lymphoma should be considered by investors looking for long-term growth opportunities.